2018 marks 60 new customers and a record number of marketplace launches, highlighting the growth of the Mirakl Marketplace Platform
Paris, Boston, London, Munich – Jan. 31, 2019 – Mirakl, the leading global marketplace solutions provider, today announced 80% year-over-year revenue growth and over 100% GMV increase from 2017. In 2018, Mirakl added 60 new customers and launched a record 37 marketplaces. Mirakl and Mirakl’s customers’ success highlights the increased adoption of the marketplace model.
Major highlights for Mirakl in 2018 included:
- SAP became an official reseller of the Mirakl Marketplace Platform, adding Mirakl to its software and service portfolio. With the simple integration of Mirakl’s pre-built connector to the SAP Commerce Cloud, SAP customers can quickly launch marketplaces, rapidly onboard new sellers, and easily map new products and categories to catalog taxonomies.
- The acceleration of our category, Marketplace Operation Applications, in Gartner’s Hype Cycle for Digital Commerce, 2018 (July 2018). “Marketplace operation as a business model is attracting an increasing amount of attention from brands, retails and B2B online sellers,” wrote Jason Daigler, Senior Director Analyst for Gartner. “For B2B sellers, the interest often stems from the need to more fully serve their customers and offer them a single online source for more products and services, while increasing loyalty from partners (suppliers and distributors).”
- The acquisition of leading customers including Siemens, Toyota Material Handling, Office Depot, Fnac, Leroy Merlin Brazil, and Albertsons Companies.
- The launch of many innovative new use cases for Mirakl’s marketplace technology, including Siemens’ successful launch of their B2B online marketplace, Coperama’s leading procurement marketplace, and Carrefour Taiwan’s product expansion marketplace.
- The launch of Mirakl Catalog Manager (MCM) has given customers complete control over seller data quality making it even easier to manage product data quality at marketplace scale. Originally launched in early 2018, Mirakl continued to launch new MCM features throughout the year like bulk actions, which greatly reduces the time it formerly took to consolidate product data.
Additionally, Mirakl’s customer performance was outstanding in 2018, showcasing the financial impact of the marketplace model:
- Over $1B GMV achieved by Mirakl customers which represents over 100% GMV growth year-over-year.
- 2.5x the orders on Black Friday in 2018 versus 2017- processing 500,000 orders in a single day, with 100% uptime, resulting in $60M GMV for our customers.
- The majority of marketplace launches were completed within four months of becoming Mirakl clients.
Today, 87% of business buyers across industries are making business purchases through marketplaces, and in 2018 Mirakl supported a record number of these businesses including Toyota Material Handling. “…we see the future potential for the online marketplace to serve as a vehicle to better support our dealers by helping them sell more of their inventory – even non-Toyota products,” said Steve Tadd, Director of Marketing & IT for Toyota Material Handling.
Behind Mirakl’s customers’ success is the Mirakl Labs and Client Success teams.
Mirakl Labs, Mirakl’s R&D Division, released significant enhancements to Mirakl’s Marketplace Platform, including:
- More flexible payment options to meet operators, sellers and customers’ desire for flexibility in when and how they pay. New features include customizable billing cycles and invoice payment confirmation. Additionally, Mirakl added a unique new feature that lets customers pay sellers directly without the operator involved, and the operator then invoices the commission. This eliminates the need for operators to hold dollars for sellers, and allows them to quickly collect commission.
- Mirakl services marketplace platform was enhanced by improved services attribute management and messaging systems which give operators more ways to manage service details and improve communications between service providers and customers.
- In 2018 Mirakl put a significant focus on B2B feature innovation to cater to the complexity of B2B sales. Innovations included more granular pricing control, increased minimum and maximum quantities for bulk selling, and continued improvement for tax and payment handling.
- Whether it was U.S. tax regulation or GDPR compliance, Mirakl prioritized all necessary projects to ensure clients’ ability to respond to any changes in tax and law.
Mirakl’s Client Success team launched Mirakl University, a program designed to train and certify clients’ teams and partners on marketplace management, and proudly completed 40 certifications in 2018.
In Gartner’s Predicts 2019: New Deployment Models, Channels and Technologies Spark Digital Commerce Growth (Dec 2018), the report estimates that “By 2023, 15% of medium- to high-GMV digital commerce organizations will have deployed their own marketplaces, thereby creating a digital ecosystem on their path to digital business.” In order to support this rapid adoption of marketplaces, Mirakl has grown their headcount over 200% in the past two years.
“Mirakl’s tremendous success last year, combined with our customers’ success, is further proof that we are living through a platform revolution,” said Philippe Corrot, Mirakl CEO. “What our customers are proving is that by launching a marketplace, leading companies can compete with platform giants such as Amazon and Alibaba. We are excited to continue our rapid growth and help more companies navigate the platform revolution this year.”
Annually Mirakl hosts the Marketplace & Platform Summit bringing together market-leading retailers, innovative technology partners and top industry analysts to celebrate the power and potential of the marketplace model. In 2018, the Marketplace & Platform Summit hosted over 400 marketplace leaders from across the world. Adrien Nussenbaum, Mirakl co-founder and U.S. CEO, spoke to the Platform Revolution in his keynote and attendees heard from speakers including: Walmart Mexico, Alibaba, Galeries Lafayette, 1-800-Flowers.com Inc., Conrad Electronic, and Roland Berger France.
For more information about Mirakl and the Mirakl Marketplace Platform, please visit www.mirakl.com.
Mirakl powers your platform business strategy by allowing you to quickly launch an online marketplace. Marketplaces allow companies to easily add products and services by connecting third-party sellers and service providers. The Mirakl Marketplace Platform automates the hard things about marketplace management: Seller onboarding, service quality control, and order distribution; on a turn-key solution that’s easy to integrate into any e-commerce platform. Mirakl Catalog Manager makes it easy to manage product data quality at marketplace scale. Over 200 customers in 40 countries trust Mirakl’s proven expertise and technology including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, and Walmart Mexico. For more information: www.mirakl.com
Senior Director Marketing, Americas